The Looming Vibecession, Paying College Athletes, & America’s Weed Habit
May 23, 2024
Hello, readers – happy Thursday! Today, we’ll be talking about U.K. elections, America’s economy, cartel firearms, recognizing a Palestinian state, backpay for college athletes, bipartisan legislation about presidential finances, and America’s weed habit.
Here’s some good news: The Biden administration announced yesterday that it is canceling student loans for another 160,000 borrowers. This means that nearly 5 million Americans have had about $167 billion in student debt canceled. Also, renowned Sherpa mountain guide Kami Rita scaled Mount Everest for a record 30th time yesterday.
“People are like stained-glass windows. They sparkle and shine when the sun is out, but when the darkness sets in, their true beauty is revealed only if there is a light from within.” – Elisabeth Kübler-Ross
Has Sunak Pulled The Trigger Too Soon?
On Wednesday, British Prime Minister Rishi Sunak bet all his chips on a snap election. In a surprise press conference, Sunak announced plans to hold a general election on July 4 this year despite his Conservative Party’s double-digit deficit in the polls. He’s hoping that recent signs of an economic turnaround for the U.K. will provide the Tories with enough momentum to overcome the opposition Labour Party’s massive lead with the British public, which seems to have had enough of Conservative rule.
Why are Britons so fed up with the Tories? It’s a combination of factors: during the pandemic, former prime minister Boris Johnson held lavish government parties despite self-isolation regulations, and his successor, Liz Truss, only lasted 44 days in office due to her (frankly impressive) mishandling of Britain’s economy, which sent the value of the pound into the dumpster. While Sunak has been able to mostly stabilize the economy, his administration has struggled with cost-of-living and healthcare system crises.
“Now is the moment for Britain to choose its future,” said Sunak in the pouring rain, calling on British voters to “build on the future you’ve made or risk going back to square one.” One professor of politics said that the Tories’ economic woes will make it almost impossible for them to eke out a win, even with the snap election.
The Vibe-cession And Its Effects On The Presidency
According to a new poll conducted by the Guardian, three in five Americans believe that the U.S. is currently in an economic recession – but it’s not. The U.S. economy has consistently trended upward since the pandemic, with GDP increasing every quarter besides a brief downturn in 2022. 58% of respondents lay the blame at President Biden’s feet.
So what’s causing this disconnect between the numbers and what Americans are feeling? First, inflation continues to be a big problem. While data shows that inflation has decreased from its Covid-era peak of 9.1% in June 2022, 72% of respondents believe that inflation is increasing as they’re still feeling the impact of Covid-era price hikes. Other areas where consumers are hurting include childcare and home insurance, which have seen significant cost increases in recent years.
“What Americans are saying in this data is: ‘Economists may say things are getting better, but we’re not feeling it where I live,’” said the CEO of the Harris Poll, which conducted the survey. “Unwinding four years of uncertainty takes time. Leaders have to understand this and bring the public along.”
American Firearms Fuel The Fentanyl Crisis
- A recent leak of Mexican military intelligence shows that over 78,000 American firearms have made their way to Mexico in recent years, providing firepower to the cartels that run the drug trade south of the border. The data is part of a leak of over 10 million files released by the transparency organization Distributed Denial of Secrets, or DDoSecrets.
- According to the data, most of the guns used by Mexican cartels are shipped south via American big-box stores located near the border – just two stores sold almost 1,000 guns that ended up in the hands of the cartels between 2020 and 2022. Many of these guns are bought by American citizens, who then sell them off for a no-questions-asked profit to cartel buyers.
More Isolation For Israel
- On Wednesday, Norway, Ireland, and Spain publicly announced plans to officially recognize a Palestinian state. The diplomatic move comes at a crucial time for Israel, which faces both internal turmoil and external criticism due to its military operations in Gaza that have killed over 35,000 Palestinians. While over 140 countries (including China, India, and Sweden) all recognize a Palestinian state, the U.S. and many of its allies have refused to do so due to Washington’s ties with Israel.
- Israel recalled its ambassadors to all three countries and also summoned their ambassadors in Israel for a dressing-down. “History will remember that Spain, Norway, and Ireland decided to award a gold medal to Hamas murderers and rapists,” said Israeli Foreign Minister Israel Katz, adding that envoys from the European countries would be made to watch footage of Hamas’ October 7 attacks on Israel which sparked the ongoing war.
More Mixed Nuts
- Pentagon: Russia likely launched counter space weapon into low Earth orbit last week (ABC)
- Indian teen allegedly kills two while drunk driving. As punishment, he was told to write an essay (CNN)
- Biden is honoring Kenya with state visit as the East African nation prepares to send police to Haiti (AP)
- Europe’s far right in disarray as Germany’s AfD candidate resigns (Guardian)
- Putin has ‘both eyes’ on Gotland, warns Sweden’s army chief (Politico)
- South Africa elections: A guide and everything you need to know (CNN)
Middle East Mixed Nuts
- Pentagon says none of the aid unloaded from US pier off coast of Gaza has been delivered to broader Palestinian population (CNN)
- How 2 debunked accounts of sexual violence on Oct. 7 fueled a global dispute over Israel-Hamas war (AP)
- Families of female Israeli hostages release graphic abduction footage to pile pressure on Netanyahu (CNN)
- Humanitarian operations ‘near collapse’ in Gaza, says World Food Programme (Guardian)
A Serious Settlement For Student Athletes
- The NCAA Division I Board of Directors voted to move forward on a proposed $2.77 billion settlement of House vs. NCAA. The NCAA, Big Ten, Big 12, Atlantic Coast Conference, Pac-12, and Southeastern Conference are defendants in the case.
- The NCAA lifted its ban on athletes earning money for sponsorship and endorsement deals in 2021, and the class-action lawsuit seeks back pay for college athletes who were denied name, image, and likeness compensation dating to 2016. The Big 12 was the first conference to confirm the settlement, followed soon after by the ACC.
Now That’s What I Call Checks And Balances
- Republican Rep. James Comer, chair of the House Oversight Committee, and Democratic Rep. Katie Porter introduced bipartisan legislation that would require presidents and vice presidents to disclose their tax returns and any foreign payments made to them or their families in the two years prior to taking office, during office, and the two years after they leave office.
- It would also require them to disclose loans (or loan repayments) from family members over $10,000 and report when immediate family members accompany them on official travel. “The Presidential Ethics Reform Act is landmark bipartisan legislation that delivers the transparency and accountability the American people deserve to ensure our public offices are not for sale,” Comer said in a statement.
More Nuts In America
- Tornado-spawning storms left multiple people dead in Iowa and now threaten cities from Texas to Vermont (CNN)
- Uvalde families reach settlement with city, county ahead of 2-year mark: Can ‘begin rebuilding trust’ (ABC)
- Louisiana House passes bill making abortion pills controlled substances (BBC)
- Derek Chauvin accused of kneeling on woman’s back months before George Floyd’s death (NBC)
- Judge holds first hearing since delaying Trump classified documents trial and criticizing special counsel (CNN)
- White House-backed border bill loses Democratic support as Schumer presses for new vote (CNN)
America Goes Green
- Move over, alcohol, America’s got a new favorite vice – marijuana. According to a recent analysis of national survey data, daily and near-daily marijuana use is more common across the U.S. than equivalent levels of alcohol use. While alcohol is still more widely used than weed, the data shows that high-frequency marijuana users are now more common than high-frequency alcohol drinkers.
- “A good 40% of current cannabis users are using it daily or near daily, a pattern that is more associated with tobacco use than typical alcohol use,” said the study’s lead author. Data from 2022 showed that 17.7 million people used marijuana daily or near-daily, while 14.7 million drank alcohol daily or near-daily. That’s a 15-fold increase in people with a weed habit from 1992 to 2022, which reflects government marijuana policy becoming more lenient over the years.
- While marijuana might not have the same physically addictive properties as alcohol, one psychiatry professor says that high-frequency marijuana users are at risk of developing problematic marijuana habits or addiction. “High frequency use also increases the risk of developing cannabis-associated psychosis,” he added, referring to a severe condition where people can lose touch with reality after using too much of the substance.
More Loose Nuts
- Microplastics found in every human testicle in study (Guardian)
- Scarlett Johansson could shape California’s AI debate (Politico)
- New Zealand man filmed trying to “body slam” killer whale in “shocking and stupid” incident (CBS)
- More valuable than gold: New Zealand feather becomes most expensive in the world (Guardian)
- To escape hungry bats, these flying beetles create an ultrasound ‘illusion’ (NPR)
- Lauryn Hill takes top spot in Apple Music’s 100 Best Albums, beating ‘Thriller,’ ‘Abbey Road’ (USA Today)
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- 6/11: Denver, 5pm-7pm MT. National Networking Event for Veterans & Civilian Allies. Register here!
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